Home / Market Movers / Services Sector Gets a Lift from 14.4% Morning Gain for Spanish Broadcasting System Inc. (SBSA) on September 22

Services Sector Gets a Lift from 14.4% Morning Gain for Spanish Broadcasting System Inc. (SBSA) on September 22

Spanish Broadcasting System Inc. (SBSA) has been one of the best performers amongst all NYSE and NASDAQ listed stocks in the services sector during morning trading on September 22. At the lunch break, shares of SBSA have tacked on 14.4% to $4.45 after closing the day prior at $3.89. In the first two and a half hours of trading, the stock has gone as high as $4.45 and as low as $4.02. Today’s rise has come with about 2,025 shares changing hands, compared to an average 30-day volume of 4,944 for Spanish Broadcasting System Inc.. The price is currently below the 30-day volume weighted average price of $4.13 for SBSA.

The share appreciation gives the company a market capitalization of $25.31 million based upon 6.51 million shares outstanding. It also means that SBSA has a price-to-book ratio of :1.

In the past 52 weeks, shares of SBSA have traded as low as $2.55 and as high as $6.3501. Technical traders will take note that at $4.45, shares of SBSA are trading above their 200-day MA at $3.53 and above their 50-day MA at $3.58. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.

Who is SBSA?

Spanish Broadcasting System Inc is a Spanish-language media and entertainment company with radio and television stations in the U.S. Hispanic markets, including Puerto Rico. The company’s 567 employees are led by CEO Raul Alarcon from the corporate headquarters at 7007 NW 77th Avenue in Miami, FL.


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